Lukoil and Tecnicas Reunidas will construct a vacuum gasoil light hydrocracker unit with an annual capacity of 3.5 million metric tons and up to 75% conversion ratio, a combined sulphur production unit and hydrogen production facilities at the refinery that is about 1,000 kilometers south of Moscow.

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By JAMES MARSON

MOSCOW -- OAO Lukoil has signed a $1.4 billion contract with
Tecnicas Reunidas to upgrade its Volgograd refinery, Russia's No. 2 oil
producer said in a statement Thursday.

Lukoil and Tecnicas Reunidas will construct a vacuum gasoil
light hydrocracker unit with an annual capacity of 3.5 million
metric tons and up to 75% conversion ratio, a combined sulphur
production unit and hydrogen production facilities at the refinery that is about 1,000
kilometers south of Moscow.